What is it that they value?
Several years ago I almost quit the practice of law. I was earning what I then considered great money, but I also worked 65+ hour weeks. My wife and three young daughters often got a grumpy husband/father when he came home from work.
Sometimes I missed soccer games and dance recitals.
On the advice of a colleague, I joined a coaching program. It wasn’t just for attorneys – as I wanted a broader view than that.
At my first meeting, introducing me to the group, the coach asked me, “Craig, what brings you here?”
“If my clients would only leave me alone,” I complained, “I’d be able to get the drafts of their documents done. I work late into the night, yet they’re never satisfied.”
Coach nodded his head, and then asked a probing question. “Why do you spend so much of your time on the commodity of your practice?”
I was shocked. “The commodity?” I asked. “You mean the documents?”
Coach nodded.
“Those are the most important things I create!” I answered. “My documents are well drafted! I’m board-certified! My work achieves my clients’ goals! They save millions from the IRS!”
Coach patiently listened. Then he dropped this bombshell: “Tell me, do your clients know the difference between your documents and those of the lawyer down the street?”
I stammered and resisted…at first. Within seconds I realized he was right. That was my epiphany. While my documents are well-drafted, from the client’s perspective the documents are a commodity!
So, I asked, “What exactly is it that my clients find valuable?”
From that moment I’ve spent hundreds of thousands of dollars developing my firm’s systems, processes, technology, marketing, and team building – all to enhance the value we deliver to our clients. My practice is more successful than ever. For more on this, listen to the podcast attached to this email.
Most importantly, I’ve gained more freedoms than ever.
The documents we create remain first-rate, and I maintain that they must be. But great documents aren’t the sole key to a successful practice.
To your bigger future,
Craig R. Hersch
Florida Bar Board Certified Wills, Trusts & Estates Attorney
Senior Partner, The Sheppard Law Firm
Founder, The Freedom Practice®
PS – Take a look at the topics covered during the two-day Practice Xcelerator Event – it’s everything you need to understand client value, and how to get the most out of your practice!
PPS – This event sells out every year. To secure your seat, sign up now. Any questions? Go here to calendar a time to speak to Maria Reimer.
